Milliscentshaneidn
Answered

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1500 at 4.5% for 2 years compounded monthly​

Sagot :

90Angleidn

Answer:

The total of his money for 2 years is 3,120

Compounded means the interest added each month

in 2 years there's 24 months

4.5%• 24= 108%

so 1500 have a 100 percentage

Let's do a math

Let's find the total of his money for 2years

108%+100%= 208%

1500• 2.08= 3,120

Next is we find the total of the interest

3,120-1500= 1,620

so the total of the interest added in his money is 1,600

Hope it helps.